If I have a 3x3 matrix of information where the row totals describe the total goods produced by a particular company and the column totals provide the total for a particular type of good for all companies how would I create a weighted average that tells me the average percentage Good A takes up, out of all production, for all companies? Is it necessary to weigh by company if the total number of products produced is, say, 10, 50, and 20? I imagine the variation makes it necessary, right?
2026-04-01 06:02:02.1775023322
Proper Weighted Average
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Yes, you will need to weight by total production. The reason being consistency: Imagine you are only told that the total production of each company. Then the total amount of A produced must equal the average fraction of A produced times the total production, which is equivalent to the average fraction of a per company.